The International Monetary Fund (IMF) will present Morocco with a $1.3 billion mortgage following the Sept. 8 earthquake that struck the North African nation, claiming the lives of 1000’s.
“The IMF concluded a staff-level agreement with Morocco to provide $1.3 billion in financing over the long term,” IMF Managing Director Kristalina Georgieva stated in statements cited by the Moroccan state news company, MAP.
Georgieva stated the mortgage shall be used to again Morocco’s efforts “within the face of climate-related dangers.”
She, nonetheless, stated the mortgage will nonetheless have to be authorized by the IMF board throughout its annual conferences within the Moroccan metropolis of Marrakech on Oct. 9-15.
Morocco was struck by a magnitude 6.8 earthquake on Sept. 8, killing almost 3,000 folks and injuring 1000’s, in keeping with official figures.
Marrakesh, 72 kilometers (45 miles) from the quake’s epicenter, suffered some harm in its historic Madinah quarter from the earthquake, Morocco’s strongest ever in a century.
Georgieva stated the IMF and the World Bank workers are intently working with the Moroccan authorities to “assess Marrakech’s capacity to host the 2023 (IMF-World Bank) Annual Meetings.”
Source: www.dailysabah.com